The global gas-insulated substation market revenue is projected to reach close to USD 45 billion by 2028. This can be attributed to increases in renewable energy production, increased investment in transmission & distribution systems, growing demand for energy.
Dallas, United States - April 23, 2021 /MarketersMedia/ —
The gas insulated substation is a substation that contains very high voltage. In the gas insulated substations, the major structures are sealed to prevent damage from the external environment. The sulfur hexafluoride gas is used to seal the structure. The gas-insulated substation technology was first invented in Japan.
Advantages offered by the gas insulated substation are that it needs minimum space. The gas insulated substation is not affected by pollution as the substation is installed mostly in buildings. Building a gas-insulated substation needs more cost investment than the air-insulated substation. But the future maintenance costs and operational costs are lesser than the air-insulated substation. The main applications of gas insulated substations are Environmentally Sensitive Installations, Urban Installations, and High voltage installations. Gas-insulated switchgear is installed in industrial areas to fulfill the energy demands which also saves space and minimizes cost.
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The strongest segments in the Gas Insulated Substation Market are power transmission utility, power distribution utility, power generation utility, other heavy industries, railways, and more. Among all these segments, the power transmission utility segment is anticipated to dominate the gas-insulated substation market in the forthcoming years. Power transmission utility is used to transmit grid expansion, procure equipment with high voltage, and for refurbishment. Moreover, the outdoor segment is another competing segment in the Gas Insulated Substation Market that may grow exponentially in the forecast period. The outdoor gas insulated substations are used during the operations of high voltage transmission as well as transmit medium voltage.
The leading players are Hitachi, Siemens, General Electric, Toshiba Corporation, ABB among others. These companies to stay ahead of the competitive market focused more on mergers and acquisitions to expand their businesses regionally as well as in the foreign markets. These key strategies helped the players to boost the market share and regional presence.
The internationally recognized pioneers in the Gas Insulated Substation Market across the globe are Turkey, New Zealand, the US, France, India, Japan, and Portugal among others. These players lead Gas Insulated Substation Market. The countries such as the U.S., China, E.U., APAC region, Japan, Germany, Thailand, Malaysia, and India are other competing players augmenting the Gas Insulated Substation Market. However, high maintenance costs and operating costs associated with the gas-insulated substations may hinder the market growth of the global Gas Insulated Substation Market. These systems thus become expensive to operate in terms of energy consumption, installation costs, and maintenance costs.
The major players of the global gas-insulated substation market are ABB Group, Siemens AG, Hitachi Corporation, Toshiba Corporation, and General Electric. Moreover, the market comprises several other prominent players in the gas-insulated substation market as Alstom S.A., Mitsubishi Electric Corporation, Schneider Electric SE, Hyundai Heavy Industries Co Limited, Fuji Electric Co. Ltd. and Nissin Electric Co. Ltd.
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Key Segments of the Global Gas-Insulated Substation Market
Installation Overview, 2018-2028 (USD Billion)
Indoor
Outdoor
Voltage Rating Overview, 2018-2028 (USD Billion)
Medium voltage (Up to 72.5 kV)
High Voltage (72.5 kV – 220 kV)
Extra High Voltage (220 kV – 765 kV)
End User Overview, 2018-2028 (USD Billion)
Power transmission utility
Power distribution utility
Power generation utility
Other (heavy industries & railways)
Regional Overview, 2018-2028 (USD Billion)
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
Some Major Points from Table of Contents:
Chapter 9 Competitive Landscape
9.1 Overview
9.2 Strategic Initiatives
9.2.1 Mergers & Acquisitions
9.2.2 New Product Launch
9.2.3 Investments
9.2.4 Expansion
9.2.5 Customer Targeting
Chapter 10 Company Profiles
10.1 ABB Ltd
10.1.1 Overview
10.1.2 Products and Services Portfolio
10.1.3 Recent Initiatives
10.1.4 Company Financials
10.1.5 SWOT
10.2 Alstom S.A
10.2.1 Overview
10.2.2 Products and Services Portfolio
10.2.3 Recent Initiatives
10.2.4 Company Financials
10.2.5 SWOT
10.3 Siemens A.G
10.3.1 Overview
10.3.2 Products and Services Portfolio
10.3.3 Recent Initiatives
10.3.4 Company Financials
10.3.5 SWOT
10.4 Mitsubishi Electric Corporation
10.4.1 Overview
10.4.2 Products and Services Portfolio
10.4.3 Recent Initiatives
10.4.4 Company Financials
10.4.5 SWOT
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